Gardner Tanenbaum Acquires Westgate Park Residential Multifamily In Oklahoma City For $61M Loan
Oklahoma City, Oklahoma, United States
$61,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 1, 2023
AI
The Westgate Park Residential property located in Oklahoma City, OK has undergone a recent transaction. The property is a multifamily asset spanning across 100 acres of land. It consists of 444 units, making it a substantial investment opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $61,000,000
- Address: Westgate Park Residential, Oklahoma City, OK
- Market: Oklahoma City, OK
- Landlord: Gardner Tanenbaum - Richard Tanenbaum
- Brokers: Todd McNeill & Sunny Sajnani - IPA
- Loan Amount: $61,000,000
- Loan Type: Construction
Todd McNeill and Sunny Sajnani from IPA played a crucial role as brokers in facilitating this transaction. Their expertise and involvement in the deal contributed to its successful completion.
Players
Oklahoma City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93